FUSIREF REFRACTORIES: what changed
What changed
FUSIREF REFRACTORIES
NACE 23.430, Manufacture of other non-metallic mineral products
filed annual accounts (NBB)
Net result for the year
€643,520
2024 · €419,200+€224,320
Equity
€6.5m
2024 · €6.3m+€159,770
Cash
€453,411
2024 · €685,698-€232,287
Balance sheet total
€16.4m
2024 · €17.8m-€1.3m
Largest movements
Assets
- Receivables within one year -€806,685
down €806,685 (-7.6%), from €10.7m to €9.9m
of which Trade receivables: -€629,835
- Tangible fixed assets -€697,996
down €697,996 (-14.9%), from €4.7m to €4.0m
- Stocks and contracts +€406,929
up €406,929 (+27.1%), from €1.5m to €1.9m
of which Contracts in progress: +€471,306
- Cash -€232,287
down €232,287 (-33.9%), from €685,698 to €453,411
mainly Investment in fixed assets (net) (-€725,223) and Debts after one year (-€603,500)
Equity and liabilities
- Debts after one year -€603,500
down €603,500 (-22.9%), from €2.6m to €2.0m
- Short-term financial debts -€500,000
down €500,000 (-28.6%), from €1.8m to €1.3m
- Trade debts -€356,603
down €356,603 (-10.8%), from €3.3m to €2.9m
- Current portion of long-term debt -€245,918
down €245,918 (-15.9%), from €1.6m to €1.3m
Income statement
- Staff costs +€403,226
up €403,226 (+2.6%), from €15.5m to €15.9m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€419,200
Turnover
-€190,101
Other operating income
+€151,288
Goods and materials
+€110,334
Services and other goods
+€279,403
Staff costs
-€403,226
Depreciation
-€257,408
Other operating charges
-€12,430
Other operating items
+€689,481
Financial income
-€23,988
Financial charges
-€15,110
Taxes
-€103,921
Result 2025
€643,520
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.3m
Investment
-€725,223
Financing
-€1.8m
Cash 2024
€685,698
From operations (derived)
+€2.3m
Net result for the year
+€643,520
Depreciation
+€1.4m
Stocks and contracts
-€406,929
Receivables within one year
+€806,685
Deferred charges and accrued income
+€1,239
Trade debts
-€356,603
Tax, wage and social debts
+€52,028
Other debts
+€167,700
Accrued charges and deferred income
-€11,962
Investment (derived)
-€725,223
Investment in fixed assets (net)
-€725,223
Financing
-€1.8m
Debts after one year
-€603,500
Current portion of long-term debt
-€245,918
Short-term financial debts
-€500,000
Contributions, distributions and other
-€483,750
Cash 2025
€453,411
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,751,236 | €16,412,751 | -€1.3m | -7.5% |
| Fixed assets | 21/28 | €4,826,464 | €4,121,261 | -€705,203 | -14.6% |
| Intangible fixed assets | 21 | €75,049 | €72,306 | -€2,743 | -3.7% |
| Tangible fixed assets | 22/27 | €4,697,631 | €3,999,635 | -€697,996 | -14.9% |
| Land and buildings | 22 | €1,742,999 | €1,576,163 | -€166,836 | -9.6% |
| Plant, machinery and equipment | 23 | €941,593 | €916,022 | -€25,571 | -2.7% |
| Furniture and vehicles | 24 | €378,610 | €229,555 | -€149,055 | -39.4% |
| Leasing and similar rights | 25 | €1,360,554 | €1,122,680 | -€237,873 | -17.5% |
| Other tangible fixed assets | 26 | €216,527 | €155,215 | -€61,312 | -28.3% |
| Assets under construction and advance payments | 27 | €57,348 | - | -€57,348 | |
| Financial fixed assets | 28 | €53,785 | €49,320 | -€4,465 | -8.3% |
| Other financial fixed assets | 284/8 | €53,785 | €49,320 | -€4,465 | -8.3% |
| Amounts receivable and cash guarantees | 285/8 | €53,785 | €49,320 | -€4,465 | -8.3% |
| Current assets | 29/58 | €12,924,772 | €12,291,489 | -€633,282 | -4.9% |
| Stocks and contracts in progress | 3 | €1,499,403 | €1,906,331 | +€406,929 | +27.1% |
| Stocks | 30/36 | €1,499,403 | €1,435,025 | -€64,378 | -4.3% |
| Raw materials and consumables | 30/31 | €1,499,403 | €1,435,025 | -€64,378 | -4.3% |
| Contracts in progress | 37 | - | €471,306 | +€471,306 | |
| Amounts receivable within one year | 40/41 | €10,658,392 | €9,851,707 | -€806,685 | -7.6% |
| Trade receivables | 40 | €10,288,242 | €9,658,408 | -€629,835 | -6.1% |
| Other amounts receivable | 41 | €370,149 | €193,299 | -€176,850 | -47.8% |
| Cash at bank and in hand | 54/58 | €685,698 | €453,411 | -€232,287 | -33.9% |
| Deferred charges and accrued income | 490/1 | €81,279 | €80,040 | -€1,239 | -1.5% |
| Total equity and liabilities | 10/49 | €17,751,236 | €16,412,751 | -€1.3m | -7.5% |
| Equity | 10/15 | €6,336,159 | €6,495,929 | +€159,770 | +2.5% |
| Contributions | 10/11 | €3,000,000 | €3,000,000 | = | 0.0% |
| Capital | 10 | €3,000,000 | €3,000,000 | = | 0.0% |
| Issued capital | 100 | €3,000,000 | €3,000,000 | = | 0.0% |
| Reserves | 13 | €672,000 | €672,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €300,000 | €300,000 | = | 0.0% |
| Legal reserve | 130 | €300,000 | €300,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €186,000 | - | -€186,000 | |
| Distributable reserves | 133 | €186,000 | €372,000 | +€186,000 | +100% |
| Profit (loss) carried forward | 14 | €2,664,159 | €2,823,929 | +€159,770 | +6.0% |
| Amounts payable | 17/49 | €11,415,077 | €9,916,821 | -€1.5m | -13.1% |
| Amounts payable after more than one year | 17 | €2,637,217 | €2,033,718 | -€603,500 | -22.9% |
| Financial debts | 170/4 | €2,637,217 | €2,033,718 | -€603,500 | -22.9% |
| Leasing and similar obligations | 172 | €409,878 | €160,357 | -€249,521 | -60.9% |
| Credit institutions | 173 | €2,227,340 | €1,873,361 | -€353,979 | -15.9% |
| Amounts payable within one year | 42/48 | €8,292,983 | €7,410,190 | -€882,793 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €1,550,169 | €1,304,251 | -€245,918 | -15.9% |
| Financial debts | 43 | €1,750,000 | €1,250,000 | -€500,000 | -28.6% |
| Credit institutions | 430/8 | €1,750,000 | €1,250,000 | -€500,000 | -28.6% |
| Trade debts | 44 | €3,305,653 | €2,949,050 | -€356,603 | -10.8% |
| Suppliers | 440/4 | €3,305,653 | €2,949,050 | -€356,603 | -10.8% |
| Taxes, remuneration and social security | 45 | €1,371,111 | €1,423,139 | +€52,028 | +3.8% |
| Taxes | 450/3 | €81,868 | €92,562 | +€10,694 | +13.1% |
| Remuneration and social security | 454/9 | €1,289,243 | €1,330,577 | +€41,334 | +3.2% |
| Other amounts payable | 47/48 | €316,050 | €483,750 | +€167,700 | +53.1% |
| Accrued charges and deferred income | 492/3 | €484,876 | €472,914 | -€11,962 | -2.5% |
| Operating income | 70/76A | €33,200,655 | €33,851,322 | +€650,668 | +2.0% |
| Turnover | 70 | €32,446,237 | €32,256,136 | -€190,101 | -0.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€218,175 | €471,306 | +€689,481 | |
| Other operating income | 74 | €972,593 | €1,123,880 | +€151,288 | +15.6% |
| Operating charges | 60/66A | €32,301,082 | €32,584,410 | +€283,328 | +0.9% |
| Goods for resale, raw materials and consumables | 60 | €8,132,862 | €8,022,529 | -€110,334 | -1.4% |
| Purchases | 600/8 | €8,378,594 | €7,958,151 | -€420,442 | -5.0% |
| Change in stocks: decrease (increase) | 609 | -€245,731 | €64,378 | +€310,109 | |
| Services and other goods | 61 | €7,361,517 | €7,082,114 | -€279,403 | -3.8% |
| Remuneration, social security and pensions | 62 | €15,487,009 | €15,890,235 | +€403,226 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,173,018 | €1,430,426 | +€257,408 | +21.9% |
| Other operating charges | 640/8 | €146,675 | €159,105 | +€12,430 | +8.5% |
| Operating profit (loss) | 9901 | €899,573 | €1,266,913 | +€367,340 | +40.8% |
| Financial income | 75/76B | €32,030 | €8,041 | -€23,988 | -74.9% |
| Recurring financial income | 75 | €32,030 | €8,041 | -€23,988 | -74.9% |
| Income from current assets | 751 | €3,753 | €3,074 | -€679 | -18.1% |
| Other financial income | 752/9 | €28,277 | €4,968 | -€23,309 | -82.4% |
| Financial charges | 65/66B | €282,277 | €297,387 | +€15,110 | +5.4% |
| Recurring financial charges | 65 | €282,277 | €270,547 | -€11,730 | -4.2% |
| Debt charges | 650 | €270,155 | €242,274 | -€27,882 | -10.3% |
| Other financial charges | 652/9 | €12,121 | €28,273 | +€16,152 | +133% |
| Non-recurring financial charges | 66B | - | €26,840 | +€26,840 | |
| Profit (loss) for the period before taxes | 9903 | €649,326 | €977,567 | +€328,242 | +50.6% |
| Income taxes | 67/77 | €230,126 | €334,047 | +€103,921 | +45.2% |
| Taxes | 670/3 | €230,126 | €334,047 | +€103,921 | +45.2% |
| Profit (loss) for the period | 9904 | €419,200 | €643,520 | +€224,320 | +53.5% |
| Transfer from tax-exempt reserves | 789 | €186,000 | €186,000 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €605,200 | €829,520 | +€224,320 | +37.1% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.